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At long last, Bay Area rental market cooling

Source: Mercury News


Third-quarter rents for the nine-county San Francisco Bay Area have barely moved – up 1 percent from a year ago – and in some cities have even fallen, according to a report by RealFacts. The report found the average San Jose apartment now rents for $2,500, up 0.6 percent from the third quarter of 2015, while in San Francisco – which has experience significant recent rent hikes – the average rent actually fell by 3.4 percent.


Of course, the typical apartment in San Francisco still rents for $3,499, far out of reach for most middle-class workers. In Oakland, renters can count on spending an average of $2,927, according to the report. Oakland rents were up 2.8 percent on a year-over-year basis, but that was significantly down from increases of 5.4 percent, 7.2 percent and 13.7 percent, respectively, in the previous three quarters.


About Community Real Estate

Community Real Estate is a Real Estate Brokerage committed to provide quality professional services. We are a full service company with in-house lending. We are Realtor®s and HUD approved selling agents. We are expert Short Sales, Listing Agents and Buyers’ Agents. We also specialize in First Time Buyers, Second Homes, Vacation Homes, Investment Homes, Leasing and Rentals, Relocations, Probate sales, Vacant Land sales, Manufacture Homes/Mobile Homes sales, Foreclosures, Distress Properties and REO listings and sales. We support our America’s Heroes. We look forward to meeting you and your needs!
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CA Department of Real Estate Lic.# 01960213
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